Homework Answers
D. $625,000
The corporation current E&P =Taxable income in 2013
-Federal taxes paid
+Dividend received deduction
+net capital loss carried over
- Gain on collection of cash from installment
sale
= $1,000,000 - $340,000 + $5,000 + $10,000 - $50,000 =
$625,000.
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